Seaport Therapeutics

We are thrilled to partner with Daphne Zohar, Steven Paul and the experienced team at Seaport Therapeutics!

Seaport Therapeutics, the startup launched earlier this year by the team behind Karuna Therapeutics, has raised another $225 million just six months after its most recent fundraising round. The piggyback fundraising came together at an unusually quick clip. Seaport launched in April with $100 million in venture capital. But when the word got out, firms like General Atlantic swarmed in. “We do our best, sometimes imperfectly, to track what Steve’s doing,” General Atlantic Managing Director Brett Zbar said, referencing Seaport founder and neuroscience veteran Steven Paul. Neuroscience and neuropsychiatry have entered a new era, Paul and Seaport CEO Daphne Zohar said, where past clinical trial hurdles and side effects can be overcome. General Atlantic has made the field one of its focus areas. What do you think? Comment below. #biotech #startup #neuroscience #psychiatry #neuropsychiatry #mentalhealth #depression #anxiety #drugdevelopment #venturecapital #investingstrategies #fundraising

Seaport Therapeutics, the startup launched earlier this year by the team behind Karuna Therapeutics, has raised another $225 million just six months after its most recent fundraising round. The piggyback fundraising came together at an unusually quick clip. Seaport launched in April with $100 million in venture capital. But when the word got out, firms like General Atlantic swarmed in. “We do our best, sometimes imperfectly, to track what Steve’s doing,” General Atlantic Managing Director Brett Zbar said, referencing Seaport founder and neuroscience veteran Steven Paul. Neuroscience and neuropsychiatry have entered a new era, Paul and Seaport CEO Daphne Zohar said, where past clinical trial hurdles and side effects can be overcome. General Atlantic has made the field one of its focus areas. What do you think? Comment below. #biotech #startup #neuroscience #psychiatry #neuropsychiatry #mentalhealth #depression #anxiety #drugdevelopment #venturecapital #investingstrategies #fundraising

After proving out its model with Karuna Therapeutics, which secured a schizophrenia drug approval last month, the team behind that medicine is back with another $225 million for depression, anxiety and other neuropsychiatry treatments at Seaport Therapeutics. The megaround, coming in at $75 million above the company's original target, arrives just six months after Seaport broke cover with $100 million, emerging from about five years of incubation within Karuna founder PureTech Health. “I’m enjoying my brief hiatus as a private CEO right now,” CEO Daphne Zohar said in an interview with Endpoints News. Ultimately, though, Seaport will have to be a public company if it wants to succeed at being a “major player in depression, anxiety and other neuropsychiatric disorders.” More from my interview with Zohar, Michael C. Chen and Antony Loebel: #seaporttherapeutics #biotech #biotechvc #depression #anxiety #depressiondrugdevelopment #neuropsychiatry #neurodrugdevelopment

Today we’re pleased to announce our $225 million oversubscribed Series B financing round. The syndicate was led by General Atlantic, with participation from funds and accounts advised by T. Rowe Price Associates, Inc., Foresite Capital, The Invus Group, Goldman Sachs Alternatives, CPP Investments, and other new investors. Founding investors ARCH Venture Partners, Third Rock Ventures, and co-founder PureTech Health also participated. We’re proud to partner with this group of new and existing investors who share our commitment of delivering better medicines for those suffering from #depression, #anxiety and other #neuropsychiatric disorders. The proceeds will be used to advance our clinical-stage pipeline of first and best-in-class medicines through important clinical milestones as well as further advance the capabilities of our Glyph™ technology platform. https://bwnews.pr/4eQ6FHm

We are incredibly honored to be named an Endpoints 11 winner – an award that recognizes the most exciting biotechs of 2024 from around the globe. Seaport is built on a proven development strategy and is led by the team – including Daphne Zohar and Dr. Steven Paul – involved in creating and advancing the groundbreaking therapeutic Cobenfy (formerly KarXT). Notably, our CEO Daphne Zohar accepted this award at the Endpoints News gala last night just moments after the FDA announced its approval of Cobenfy for the treatment of schizophrenia in adults. We applaud all those involved in the success of Karuna Therapeutics and the development of Cobenfy. Most importantly, we celebrate this tremendous victory for patients and their families. At Seaport, our development strategy echoes the fundamentals of what this team did with Karuna, and we are committed to delivering the next big breakthroughs in neuropsychiatric drug development with our first and best-in-class medicines for those that are suffering from #depression, #anxiety and other neuropsychiatric disorders. https://lnkd.in/eDDtjy5p

Congratulations to our Founder and CEO, Daphne Zohar, for being named to Boston Business Journal's 2024 Movement Makers List! This annual list recognizes leaders who are creating change and making the biggest impact on the Greater Boston area. We’re proud to have Daphne represent Seaport and our mission to help the millions of people struggling with serious mental health issues, including depression and anxiety. https://lnkd.in/eEJbbj6F

Our Board Member and investor Jim Healy talks biotech sentiment and his excitement around Seaport with Endpoints News’ Kyle LaHucik!

We’re pleased to announce the appointment of David Wheadon, MD, to our Board of Directors. Dr. Wheadon is a physician and psychiatrist with more than three decades of experience in regulatory affairs, clinical strategy, and global health policy at multinational companies across the pharmaceutical industry, including AstraZeneca, Abbott, GlaxoSmithKline and Eli Lilly. https://lnkd.in/enBNsc3a

On #WorldBrainDay, we raise awareness about optimal brain health, including the importance of treating #mentalhealth conditions. At Seaport, we are passionate about helping the millions of people struggling with serious mental health issues, including #depression and #anxiety. We honor this day by reinforcing our commitment to advancing the development of novel #neuropsychiatric medicines in areas of high unmet patient needs and to help alleviate the mental health burden facing millions of people and their families.